06 January 2024
Agreement held in 2010 consideration was fully paid towards purchase of flat for Rs.46,00,000/-Whereas, now registration with the sub-registrar of Rs.1,75,00,000/- whether it is required to make TDS of 1% on consideration.
07 January 2024
Section 194IA of the Income Tax Act, 1961 states that the buyer of the immovable property costing more than ₹50 Lakh will have to deduct the TDS when settling the amount to the seller. Payment already made no need for TDS now based on registration value.
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